A lot of traders will be looking at this pattern today. Will the RH shoulder form and will the price travel back up to the neckline?
The speculators will buy here, which means they will put their stops under the head. A big pool of liquidity is always a big magnet for stop hunters.
I don't trade these patterns but I keep an eye on the market structure to keep ahead of market psychology.
The speculators will buy here, which means they will put their stops under the head. A big pool of liquidity is always a big magnet for stop hunters.
I don't trade these patterns but I keep an eye on the market structure to keep ahead of market psychology.
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FOMC - Nasdaq
Macrobriefing
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